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To: CommanderCricket who wrote (102760)	6/13/2008 8:54:48 AM
From: elmatador	Read Replies (1) of 206325

"someone in China will buy a car and take over the driving" using subsidized gasoline, mind you... Furthermore, the recent surge in oil prices probably won’t affect China’s consumer prices because of generous government subsidies. The government can afford to subsidize the price of fuel and is likely to continue to do so, Mark Williams, an economist at Capital Economics Ltd., said in a recent report. “Even if international oil prices remained at their current levels, the total net subsidy bill for the year would probably amount to less than half of one percent of GDP,” Williams wrote in a June 5 report. “The costs of keeping prices down are still manageable given the strength of China’s state sector. Officials are wary of anything that could raise inflation expectations.”

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